Lundbeck is going on a cost-cutting binge. Amid falling sales--and a few months
after a new CEO took the helm--the Danish drugmaker says it will cut loose
1,000 employees as part of a plan to save 3 billion kronor, or about $445
million, by 2017.
Most of the job cuts will hit
headquarters in Valby, Denmark, and commercial operations, mostly in Europe.
Though Lundbeck has been restructuring its commercial organization in Europe
for a few years now, that hasn't been enough, the company said in a Wednesday
statement.